Analysts Set Barrick Gold Co. (TSE:ABX) Target Price at C$76.78

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have received a consensus recommendation of “Buy” from the twelve research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and five have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$76.78.

Several research analysts recently weighed in on ABX shares. Canaccord Genuity Group dropped their target price on Barrick Gold from C$80.00 to C$77.00 in a research note on Wednesday, February 18th. National Bank Financial boosted their price target on Barrick Gold from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. ATB Cormark Capital Markets downgraded Barrick Gold from a “moderate buy” rating to a “hold” rating and boosted their price target for the company from C$70.00 to C$75.00 in a research note on Tuesday, April 7th. Barclays set a C$56.00 price target on Barrick Gold and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Finally, BMO Capital Markets boosted their price target on Barrick Gold from C$55.00 to C$65.00 in a research note on Wednesday, April 22nd.

Barrick Gold Stock Up 3.1%

Shares of ABX stock opened at C$56.25 on Tuesday. Barrick Gold has a 1-year low of C$27.89 and a 1-year high of C$74.00. The stock’s fifty day moving average price is C$57.27 and its 200 day moving average price is C$60.38. The company has a debt-to-equity ratio of 17.29, a current ratio of 3.06 and a quick ratio of 2.62. The company has a market cap of C$94.25 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 2.34 and a beta of 1.50.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Monday, May 11th. The basic materials company reported C$1.36 earnings per share for the quarter. Barrick Gold had a return on equity of 23.48% and a net margin of 32.04%.The firm had revenue of C$5.81 billion for the quarter. On average, research analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

Insider Activity

In other Barrick Gold news, Director Mark Francis Hill sold 88,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of C$57.85, for a total transaction of C$5,090,800.00. Following the sale, the director owned 380,598 shares in the company, valued at approximately C$22,017,594.30. The trade was a 18.78% decrease in their position. Also, Director Robert Ananda Paul Samek purchased 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of C$55.06 per share, for a total transaction of C$550,600.00. Following the purchase, the director owned 18,900 shares in the company, valued at approximately C$1,040,634. The trade was a 112.36% increase in their position. 0.60% of the stock is currently owned by insiders.

About Barrick Gold

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry – including six of the world’s Tier One gold mines -Barrick’s operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth.